Pune Porsche Crash: Real Estate Business of Teen's Family Under Scrutiny
The real estate business of Vishal Agarwal
Real EstatePunePorsche CrashVedant AgarwalBramha RealtyReal Estate NewsMay 30, 2024
The two projects being executed by Bramha Realty include a residential project in Dhanori area and a commercial project in Pimpri near Pune, according to the declarations made by the Agarwal family with the Maharashtra Real Estate Regulatory Authority (MahaRERA). The two projects are registered under the name of Vishal Agarwal, Shivani Agarwal, and Surendra Agarwal who are father, mother, and grandfather of the minor who allegedly rammed his Porsche into two techies in their 20s - killing them on the spot on May 19.
The MahaRERA project completion date for the residential project is April 1, 2026, and for the commercial project is December 31, 2027. The two projects being executed by Bramha Realty have cast a shadow on the family's real estate business.
Details of under construction projects executed by the company in Pune According to the MahaRERA declarations made by the Agarwal family, a residential project named Bramha Skycity Phase-3 with two buildings of 14 floors each is currently under construction. The two buildings have a total of 92 units comprising 2 and 3 BHK apartments of which more than 50 units have been booked, as per information disclosed to MahaRERA by Bramha Multicon Pvt Ltd.
Another commercial project named Bramha Sky Uzuri Phase 2 is being executed by Bramha Leisures Pvt Ltd. The project is located in Pimpri near Pune and comprises 315 commercial units of which the company has got bookings for around 96 units, according to the MahaRERA declarations submitted by the firm as of December 2023. Almost half of the construction work is complete, according to the project status details posted by the company on the MahaRERA website.
What happens to homebuyers now? Pune police have arrested the teen's father and grandfather of the minor involved in the Pune Porsche accident for allegedly trying to stall the investigation. The juvenile son of the Pune builder, Vishal Agarwal, allegedly drank alcohol at a restaurant and a club before driving the car at high speed, which crashed into a motorbike in the wee hours of May 19, killing two IT professionals, police had said.
Local developers from Pune told HT Digital that the project operations may get affected for a while due to ongoing legal cases, but on paper even the mother of the juvenile accused in the accident is a director on the board of companies executing the real estate projects.
Agarwals are a prominent real estate developer in Pune and have been running the business under the banner of Bramha in Pune since the last four decades. BrahmaCorp was set up 40 years ago by Bramhadutt Agrawal. According to the company website, the firm is involved in residential, commercial, and hospitality segments. The company is known to have introduced luxury hotels such as Le Meridien Mahabaleshwar and Sheraton Grand to the Pune market.
Bramha Realty and Infrastructure Private Limited is a real estate development company founded by Vishal Agarwal after separating from his family business BramhaCorp. Bramha Multicon Pvt Ltd and Bramha Leisures Pvt Ltd are subsidiaries of Bramha Realty and Infrastructure Private Limited.
Frequently Asked Questions
Who is the owner of Bramha Realty and Infrastructure Private Limited?
Vishal Agarwal is the owner of Bramha Realty and Infrastructure Private Limited
How many projects are being executed by Bramha Realty in Pune?
Two projects are being executed by Bramha Realty in Pune a residential project in Dhanori area and a commercial project in Pimpri near Pune
What is the project completion date for the residential project?
The MahaRERA project completion date for the residential project is April 1 2026
How many units are booked in the residential project?
More than 50 units are booked in the residential project
What is the status of the commercial project?
Almost half of the construction work is complete according to the project status details posted by the company on the MahaRERA website
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